The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses accrual basis accounting. Advertising Revenue $ 58,322 Cash 51,907 Accounts Receivable 8,426 Interest Expense 2,530 Accounts Payable 5,500 Operating Expenses 47,241 Deferred Revenue 1,476 Equipment 22,746 Income Tax Expense 2,916 The following activities occurred in 2019: Performed advertising services on account, $69,000. Received cash payments on account, $13,400. Received deposits from customers for advertising services to be performed in 2020, $4,500. Made payments to suppliers on account, $5,500. Incurred $56,450 of operating expenses; $48,950 was paid in cash and $7,500 was on account and unpaid as of the end of the year. What is the balance of Accounts Receivable at December 31, 2019
Answers (1)
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “The following account balances are taken from the December 31, 2018, financial statements of ABZ Advertising Company. The company uses ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
Alcatuiti un eseu in care sa prezentati argumente in functie de care piata asigurarilor ar putea fi considerata o piata cu concurenta perfecta
Answers (1)
The ending finished goods inventory budget supplies information is needed for the: a. sales budget. b. cash budget. c. budgeted income statement. d. cost of goods sold budget. e. all of these.
Answers (1)
When a marketing researcher uses a collection of reports, financial statements, and surveys from different departments within her firm, she is using: primary data. internal secondary data. external secondary data?
Answers (1)
According to the savings-investment spending identity: a) savings equals investment spending. b) savings equals investment spending plus consumption spending. c) government spending equals tax receipts.
Answers (1)
figurative language a hot day
Answers (1)
New Questions in Business
The law of increasing opportunity costs is reflected in a production possibilities curve that is: A. an upsloping straight line. B. a downsloping straight line. C. concave to the origin. D. convex to the origin.
Answers (2)
A team was in pursuit to sign a highly sought-after free agent. It gave the player the highest offer of all the teams, and ultimately signed him to a high-paying contract. The player did not live up to expectations during the subsequent season.
Answers (1)
In order to test a new customer loyalty program, a supermarket sends an email to its current customers in one of its regions of operation, inviting them to opt into the new program.
Answers (2)
Over the last four years, a stock has had an arithmetic average return of 8.8 percent. Three of those four years produced returns of 16.3 percent, 10.2 percent, and - 14.1 percent. What is the geometric average return for this 4-year period?
Answers (1)
When a person gains a benefit from a previously unauthorized act of an agent and does not deny the authority to act after learning about it, this constitutes an agency created by:
Answers (1)